MMT: how to funds the NHS (and other public services)
The NHS crisis The NHS has worked well over the decades, supposedly the envy of the world. So what has changed over the last 70-odd
MMT: Full employment: a Job Guarantee (JG)
What is the Job Guarantee? Modern Money Theory's (MMT) description of the economy leads to one of its core policies, that the government can guarantee
MMT: No black hole, no National debt
National Debt key points The National Debt is not a debt, it is not "owed" back The National Debt is money in the economy that
MMT: The alternative to austerity
Austerity is deliberate and manufactured by government. Austerity also kills. But economists have been aware of alternatives to austerity for nearly 50 years, that focus
MMT: Taxes do not fund government spending
Modern Monetary Theory explains that a country that issues its own currency (like the UK and USA), can instruct its Central Bank to credit the
Modern Money Theory: Main points
Modern Money Theory can be quite complicated, for which it is recommended that you refer to additional articles. But the main points of MMT are
The "Trussonomics is a form of MMT" myth
A number of commentators are suggesting that Liz Truss and Kwasi Kwarteng's budget (the biggest tax cut since 1972) have embarked on a form of
MMT: The "printing money causes inflation" myth
One of the most common, but ill-informed criticisms of Modern Money Theory (MMT), is that if the government just prints money and spends as much
The "MMT is not new or original" myth
What's new in MMT Taxes and issuances of securities are not a source of funds for government spending “Deficit financing” is not an appropriate terminology
The "no-one believes in MMT" myth
Some Modern Money Theory Proponents William Mitchell (Web site) Professor of economics at the University of Newcastle, New South Wales, Australia L Randall Wray (On
The "Where does the money come from" myth
In Modern Money Theory, it is a myth that the government: Has to borrow and tax before it has enough money to spend. Spends /
MMT: The "economy is like a household" myth
Many people have likened a country's economy to that of a household: you can spend only what you have saved or borrowed. While it is
The fallacies of critics of MMT
A "fallacy" is a flawed argument. When you read about MMT, you will find lots of different opinions, unfortunately some of them are deliberate fallacies
What is Modern Money Theory (MMT)
Modern Money Theory (MMT) describes aspects of the economy that affect all of us, such as: Government spending (how money enters the economy) Taxation (how
The motive behind this website
I am a 62-year-old teacher of maths and science, who finds economics quite dull. Tax returns fill me with dread, and until recently, I didn't